Crypto May Replace Money, According to Morgan Creek
Morgan Creek Capital (MC), a US-based asset management company, stated in their 2nd quarter report that digital currencies are due to ultimately replace traditional fiat currencies completely.
The report detailed how investors are continuously focused on the virtual currency trend, including its benefits and possible effect on the overall business sector. MC also stated that it is possible that cryptocurrency can entirely replace traditional currencies known today.
The report reads that in the perspective of the asset company, BC technology is due to interrupt the CoV similarly to how the creation of the Internet interrupted and renovated the industry. According to them, traditional money will disappear and instead, BTC and other crypto will take its place.
As BTC is beginning to find its place in mainstream society, financial markets are quickly learning to follow.
MC is already a believer of crypto- through a partnership with Bitwise, they have launched a crypto asset fund for those who wish to invest in crypto’s top ten assets.
The firm also said that as BTC’s current value has indicated a similar pattern to that seen in 2014, the currency may hit the $100,000 mark in the next 3 years.
Alongside technological advancements and progress made by the Lightning Network, more and more consumers may adopt the currency faster. The crypto has a strong chance of hitting the $20,000 mark by the year’s end, above $40,000 by 2019, and so on.